JANUARY saw 1,476 new private homes being sold in Singapore, much higher than the figures for December (481) and November (601).
These figures, from the Urban Redevelopment Authority, signal that the private property market is off at a record-setting pace for the year. It is also the first time monthly sales figures have risen since July last year.
In fact, January’s sales were so exuberant that buyers bought more units than the number launched by developers that month. They also set a faster pace than the average 1,230 units sold per month in 2007 – a year which saw a record 14,811 new homes snapped up.
Property analysts said that this has set the tone for the year. Demand for new homes is expected to be strong, especially in the higher-end segments of the market.
(fr Asia One)